{"id":391839,"date":"2026-04-10T16:19:13","date_gmt":"2026-04-10T16:19:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/391839\/"},"modified":"2026-04-10T16:19:13","modified_gmt":"2026-04-10T16:19:13","slug":"tech3-upi-turns-10-swiggy-co-founder-nandan-reddy-to-log-out-and-more","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/391839\/","title":{"rendered":"Tech3 | UPI turns 10; Swiggy co-founder Nandan Reddy to log out; and more"},"content":{"rendered":"\n

One quick thing: TCS witnesses first annual revenue decline<\/a> since going public in 2004<\/p>\n

In today\u2019s newsletter:<\/p>\n

UPI turns 10: What comes next?Swiggy co-founder Nandan Reddy to log outSpace wars: Who really controls the satellite?<\/p>\n

P.S.: Tune into Tech3 Podcast, your daily dose of tech and startup insights. Monday to Friday! Check it out on Spotify <\/a>or Apple Podcasts<\/a>. And don\u2019t forget to sign up to The AI Edge<\/a>, our weekly newsletter on all things artificial intelligence (AI).<\/p>\n

Was this newsletter forwarded to you? You can sign up for Tech3 here<\/a>\u00a0<\/p>\n

\"\" Top 3 Stories
\n UPI turns 10: What comes next?<\/p>\n

\"UPI <\/a> <\/p>\n

10 years was all it took to transform how India pays and reshape the entire landscape<\/p>\n

Driving the news <\/p>\n

UPI is turning 10 and has emerged as the country’s most preferred digital payments method.\u00a0<\/p>\n

Powered by ease of use and speed, the platform now has around 400 million users and processes over 750 million transactions a day, making it the world\u2019s largest real-time payments system.<\/p>\n

Its next targets are just as ambitious:<\/p>\n

A billion transactions a dayA billion users over the next decade<\/p>\n

To put its growth in perspective, UPI processed Rs 21 lakh crore worth of transactions in FY20. In March 2026 alone, it crossed Rs 30 lakh crore.<\/p>\n

Faint of money <\/p>\n

Dwindling government subsidies mean that ecosystem players are left with less capital to reinvest for the next stage of growth.<\/p>\n

\u201cWhile the ecosystem has thrived on adoption, the underlying economics remain thin for the players who have heavily invested in the infrastructure, security, consumer awareness and merchant acquisition,” PhonePe co-founder and CTO Rahul Chari told us.<\/p>\n

Turning scale into monetisation <\/p>\n

NPCI, which operates UPI, is asking ecosystem players to take various credit products to the masses, possibly half a billion in the next decade.<\/p>\n

Credit products on UPI attract MDR, a commission that payment firms collect from merchants.<\/p>\n

“UPI has an incredible opportunity to democratise credit<\/a>. There are a few more structural pieces that have to fall into place, and it will happen sooner than later,\u201d Sharath Bulusu,\u00a0 senior director at Google Pay and Wallet told us.<\/p>\n

Dig deeper<\/a><\/p>\n

Swiggy co-founder Nandan Reddy to log out<\/p>\n

\"Swiggy <\/a> <\/p>\n

Swiggy is witnessing the exit of another founder. The company is also hitting \u2018re-order\u2019 on its board structure.<\/p>\n

What\u2019s happening? <\/p>\n

Nandan Reddy, co-founder of Swiggy and head of innovation, has quit with immediate effect. He is also giving up his board seat.<\/p>\n

Reddy is set to start his own venture, sources tell us. Why it matters? <\/p>\n

Reddy\u2019s departure is significant for two main reasons:\u00a0<\/p>\n

First, he is the latest co-founder to exit the firm, leaving Sriharsha Majety as the last remaining member of the original founding trio.<\/p>\n

Phani Kishan, now also a co-founder, was an early employee who was elevated to the role in 2021.<\/p>\n

Second, Reddy is also the second senior-level departure at Swiggy.<\/p>\n

Earlier this week, we exclusively reported that Abhishek Agarwal, head of investor relations (IR) and vice president (VP) at Swiggy is also leaving<\/a>.<\/p>\n

These exits are at a time when the company\u2019s share price is under pressure and it continues to incur losses.\u00a0<\/p>\n

Board restructuring <\/p>\n

Prosus, Swiggy\u2019s largest shareholder, is also making changes to its board representation.<\/p>\n

Roger Clark Rabalais will step down as nominee director and will be replaced by Renan De Castro Alves Pinto, also an executive at Prosus.<\/p>\n

In addition, Swiggy has proposed inducting two senior executives to the board: Kishan and chief financial officer Rahul Bothra, subject to shareholder approval.<\/p>\n

Dig deeper<\/a><\/p>\n

Space wars: Who really controls the satellite?<\/p>\n

\"Space <\/a> <\/p>\n

In space, the real question isn\u2019t who owns the satellite. It\u2019s who can switch off access to it.<\/p>\n

Driving the news <\/p>\n

Planet Labs\u2019s move to restrict imagery over Iran (based on directions of the US government) may seem tactical. But for India’s spacetech startups with American ties, it raises a deeper concern around control.<\/a><\/p>\n

The trigger: US-aligned firms can be directed to limit access in conflict zonesThe implication: Space data isn’t purely commercial. It’s strategicThe shift: Indian space startups which also have operations in India, operate in overlapping regulatory and geopolitical spheres<\/p>\n

As Chaitanya Giri of Observer Research Foundation puts it, compliance in US-linked ecosystems is often “not optional,” especially in defence-linked contexts.<\/p>\n

Structuring for a fragmented world <\/p>\n

For companies like Digantara who have set up subsidiaries in the USA, the response is structural.<\/p>\n

CEO Anirudh Sharma told us how they are solving for this challenge:<\/p>\n

Separate entities across geographies to avoid centralised controlIndia holds core IP; global arms operate via licencesMarket-specific capabilities (example: missile tracking in the US vs SSA in India)<\/p>\n

Sharma says the real risk lies in centralised decision-making, something the company has tried to avoid by design.<\/p>\n

The rise of a ‘corporate foreign policy’ <\/p>\n

Legal and policy experts say this is no longer optional. It\u2019s foundational.<\/p>\n

Multi-jurisdiction structures help navigate export controls and sanctionsLocalising R&D and IP enables operational autonomyNeutral jurisdictions and distributed control centres are emerging as strategies<\/p>\n

According to Ashok GV, partner at Allied Law Practices , spacetech firms must now embed geopolitical risk into their core business planning and even develop a \u201ccorporate foreign policy.\u201d<\/p>\n

Capital, compliance, and control <\/p>\n

Ownership is only one part of the equation.<\/p>\n

Authorisation for satellites sets the legal baseline, but geopolitics shapes real-world operationsCapital flows, supply chains, and export controls create “pressure points” India\u2019s balancing act <\/p>\n

India is trying to walk the tightrope between global integration and strategic autonomy.<\/p>\n

IN-SPACe is pushing domestic capacity through PPP models. However, government funding remains skewed toward R&D rather than infrastructure scale-up.<\/p>\n

Go deeper<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"One quick thing: TCS witnesses first annual revenue decline since going public in 2004 In today\u2019s newsletter: UPI…\n","protected":false},"author":2,"featured_media":391840,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[61,60,202,80],"class_list":{"0":"post-391839","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-ie","9":"tag-ireland","10":"tag-mobile","11":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/391839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=391839"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/391839\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/391840"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=391839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=391839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=391839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}